Introduced in the Finance Act 2016, the Loan Charge is a tax charge on any outstanding loans deriving from the use of disguised remuneration (DR) schemes.
DR schemes usually involved the remuneration of individuals (directors/shareholders or their family members) through third party loans or payments, which were then unlikely to be repaid.
Caravan industry stalwart Peter Nevitt has stepped down as Chief Executive of Victory Leisure Homes after 11 years at the helm.
Peter, who’s career in the industry spans 45 years, has led the company since its launch in 2009.
His role will be taken over by James Doyle, main board director at Victory’s parent company, J.R. Rix & Sons Ltd.
Online booking channel Michael Paul Holidays has acquired Caravan Sitefinder from Tribalogic.
A Devon lodge park and hotel, Lakeview Manor, has been acquired by private equity-backed holiday operator Lakeshore Leisure Group Ltd in a deal brokered by Colliers International.
Lakeview Manor, in the Blackdown Hills Area of Natural Beauty, near Honiton, had been on the market for £1.8 million. The purchase price has not been disclosed.